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Importance of Health Insurance Top-Up Plans

By Finserv MARKETS - Aug 23,2019
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Top-Up Plans In Health Insurance

Having insurance plays a crucial role in protecting your family against the medical bills that can pile up at times of health emergencies, something that you could on to bank you financially, even in times when you do not have a lot of savings in your bank account, or a lot of assets for that matters. Insurances, however, provide a limited cover.

Sometimes, an unfortunate incident could call for a financial engagement which exceeds the threshold of your existing policy. Then, instead of routing for dire measures, you can purchase an insurance top-up for your health insurance — a choice that will have you financially sound and stable.

Insurance top-ups are just the need of the moment as the cost of buying insurance can increase over time while the cover provided with it may remain the same. You can buy a top-up policy from your current insurance provider or a new insurance provider altogether by entering your basic details online.

Here are three scenarios in case you are wondering why you should get an insurance top-up, especially on your health insurance:

  • Taking Away Uncertainties

Insurance top ups provide an all-round coverage to you and your family. The minimum age to get insurance top-ups for your insurance or your family health insurance is 18. However, if the children who are to be insured are dependent, then the minimum entry age can be adjusted by up to 3 months. The maximum age limit is generally at 80 years, and 25 years for dependent children.

  • Increasing Your Existing Cover

This is one of the scenarios where getting a family health insurance top-up makes the most sense. Let’s suppose that your existing insurance offers a coverage of up to 5 lakhs. However, looking at the increasing healthcare costs, you could be wondering if 5 lakh would be enough in case of a medical emergency. So you decide to have the policy extended by another 5 lakh.

Now, you have two options: buying a new insurance policy which will generally cost you around Rs 6000 per year or requesting your policy provider to upgrade your existing plan by Rs 5 lakh. Both of these are expensive options.

The best way around is to get a top-up plan of Rs 5 lakh which will probably cost you around Rs 2,000 a year — the cheapest of options. Similar options are available with health insurance top-ups in Finserv MARKETS.

A study published in the journal Anthropology & Medicine revealed that the percentage of India’s budget allocation on health care remains one of the lowest in the world. Newer schemes like Aayushman Bharat Yojana do come to the aid of people in lower financial brackets. However, for the middle class, there’s hardly any relief.

Taking a top-up plan will ensure that you are not tied up to the health insurance benefits of your existing policy and can look forward to living your life without worrying much about what is going to happen after you suffer a major injury or are bedridden with medical bills piling up.

Not Just Your Hospitalization Expenses

The study mentioned above also stated that a majority of insurance coverage policies in India only addresses the costs of hospitalization, while other factors such as medicine and outpatient care costs were not taken care of. It is a typical case for families to get into debt because they cannot cover the medical bills despite having regular health insurance.

Top-ups on the Finserv MARKETS ensure that all of you get enough flexibility to incur the costs of follow up care — a point where the regular insurance coverage expires and people have to start paying directly out of their pockets. Besides, most insurers don’t even ask for medical check-ups up to the age of 55 years.


At Finserv MARKETS, health insurance top-up acts as a reimbursement once you meet your regular threshold of insurance cover. Top-ups are an effective way to ensure that your health and hospitalization needs are covered without draining your pocket. Health insurance provides you access to the cashless facility at over 6000+ empaneled hospitals across India. Among other benefits, it offers a lifetime renewal options, a free look period of 15 days, and free health check-up. You can even get top-ups for your family health insurance to ensure that your family stays protected in case of unfortunate events such as an accident that can have the primary bread earner bedridden for a long time.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!


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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522